https://www.taxtmi.com/caselaws?id=205778 The judgment confirmed a duty demand of 52,08,73,907/- with interest against M/s IOCL, along with a penalty of Rs.50 lakhs due to discrepancies in the quantity of petroleum products cleared under bond without duty payment. The case was remanded to the original adjudicating authority for verification of details and a fresh decision, emphasizing the importance of thorough verification of reconciliation statements and procedural fairness in tax matters. en-us Mon, 31 Jan 2011 00:00:00 +0530 Thu, 22 Sep 2011 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205778 The judgment confirmed a duty demand of 52,08,73,907/- with interest against M/s IOCL, along with a penalty of Rs.50 lakhs due to discrepancies in the quantity of petroleum products cleared under bond without duty payment. The case was remanded to the original adjudicating authority for verification of details and a fresh decision, emphasizing the importance of thorough verification of reconciliation statements and procedural fairness in tax matters. Case-Laws Central Excise Mon, 31 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205778